Unitech MD Sanjay Chandra arrested by Delhi Police

Last year, a court in New Delhi had ordered initiation of proceedings against the company in a case of alleged cheating , lodged by an investor for not giving him possession of a flat booked in 2006 in Greater Noida.

Unitech Managing Director Sanjay Chandra was arrested by the Economic Offences Wing of the Delhi Police late Friday night in connection with a money laundering case. Unitech, a real estate firm, and its top executives have been accused by home buyers of duping them after they failed to hand over flats in a Gurgaon housing project.

“The accused, Ajay Chandra and Sanjya Chandra of Unitech, have been arrested for not developing a project, Anthea Floors, at Gurugram,” a police officer was quoted as saying to news agency PTI. “Ninety-one people have invested Rs 35 crore in the project. The probe into the case is being monitored by a trial court,” the officer added.

Last year, a court in New Delhi had ordered initiation of proceedings against the company in a case of alleged cheating , lodged by an investor for not giving him possession of a flat booked in 2006 in Greater Noida. The flat was to be handed over by April 2008 but the company had failed to do so.